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<p>Welcome to another weekly crypto recap from Melega Finance. A new report reveals that over half a billion people have joined the cryptocurrency world by the end of 2023, marking a 34% increase from the previous year. Ether (ETH) ownership surged to 124 million users, while Bitcoin (BTC) ownership reached 296 million.</p><p>However, Bitcoin (BTC) continued its struggles around $40,000 throughout the week. It briefly dipped below that level due to GBTC-linked selling on Coinbase, but managed to recover and surge to around $42,000 at the time of writing.</p><p>As the crypto market pulsated with anticipation and uncertainty, let us now turn our focus to the most riveting and consequential stories that unfolded throughout the week. Guess what? Most of &#39;em have something to do with regulations and legal stuff.</p><p>For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to <a href="https://melega.finance/" rel="noopener noreferrer nofollow">visit our website</a> and follow Melega Finance (<a href="https://twitter.com/melegadex" rel="noopener noreferrer nofollow">&#64;melegadex</a>) on Twitter for more on all things cryptocurrency.</p><h2 id="header-0">TOP CRYPTO NEWS RECAP (JANUARY 21–JANUARY 27, 2024)</h2><p>●  Former Binance CEO&#39;s Travel Request Denied Amidst Legal Troubles</p><p>●  Tornado Cash Co-founder Expresses Fear Ahead of Criminal Trial</p><p>●  Mt. Gox Trustee Progresses on Repayments; Emails Confirm Identity Verification</p><p>●  Terraform Labs, Behind Defunct TerraUSD, Files for Bankruptcy Protection</p><p>●  Lawyer Sentenced to 10 Years for OneCoin Money Laundering</p><p>●  SEC Delays Decision on BlackRock&#39;s Spot Ether ETF</p><h3 id="former-binance-ceo-39-s-travel-request-denied-amidst-legal-troubles">Former Binance CEO&#39;s Travel Request Denied Amidst Legal Troubles</h3><p>Former Binance CEO Changpeng Zhao <a href="https://www.courtlistener.com/docket/68025988/58/united-states-v-zhao/" rel="noopener noreferrer nofollow">sought </a>to use his multibillion-dollar stake in Binance.US as security to travel to the United Arab Emirates temporarily for a family member&#39;s surgery. However, federal prosecutors opposed the request, and the court denied it. Zhao, facing money laundering charges, is currently on a $175 million bond in the U.S. and is prohibited from leaving the country until his sentencing on Feb. 23.</p><h3 id="tornado-cash-co-founder-expresses-fear-ahead-of-criminal-trial">Tornado Cash Co-founder Expresses Fear Ahead of Criminal Trial</h3><p>Roman Storm, co-founder of Tornado Cash, expressed fear about his upcoming criminal trial for charges including money laundering and violating the Economic Powers Act. In a plea for support, he emphasized the potential impact of the legal battle on software and privacy advocates. Storm&#39;s trial is set for September 2024, with ongoing financial support for his defense. The case is linked to Tornado Cash&#39;s alleged facilitation of North Korea-based hackers, prompting legal actions and appeals from crypto advocates against U.S. government sanctions.</p><h3 id="mt-gox-trustee-progresses-on-repayments-emails-confirm-identity-verification">Mt. Gox Trustee Progresses on Repayments; Emails Confirm Identity Verification</h3><p>The trustee of Mt. Gox, a previously hacked cryptocurrency exchange, is <a href="https://www.reddit.com/r/mtgoxinsolvency/comments/19ck51n/comment/kj06oc5/" rel="noopener noreferrer nofollow">advancing repayment efforts</a>, reaching out to creditors for identity verification and account confirmation. Creditors are receiving emails regarding the completion of identity verification for accounts set to be used for Bitcoin and Bitcoin Cash repayments.</p><p>Exchanges like Bitstamp are continuing to service Mt. Gox-related customers in specific countries despite ceasing operations in those jurisdictions. The trustee is also moving forward with bank account repayments, following reports of double payments in late 2023.</p><h3 id="terraform-labs-behind-defunct-terrausd-files-for-bankruptcy-protection">Terraform Labs, Behind Defunct TerraUSD, Files for Bankruptcy Protection</h3><p>Do Kwon’s Terraform Labs, the company behind the now-defunct TerraUSD (UST) stablecoin, <a href="https://storage.courtlistener.com/recap/gov.uscourts.deb.191957/gov.uscourts.deb.191957.1.0.pdf" rel="noopener noreferrer nofollow">filed for Chapter 11 bankruptcy protection</a> in the United States. The firm cited between $100 and $500 million in estimated liabilities and assets, and its CEO, Chris Amani, emphasized the community&#39;s resilience. This comes after the postponement of Kwon&#39;s fraud trial and amid speculation about his potential extradition to South Korea.</p><h3 id="lawyer-sentenced-to-10-years-for-onecoin-money-laundering">Lawyer Sentenced to 10 Years for OneCoin Money Laundering</h3><p>A federal judge <a href="https://twitter.com/innercitypress/status/1750604998885462417" rel="noopener noreferrer nofollow">sentenced </a>lawyer Mark Scott to 10 years in prison for his role in laundering millions of dollars through the OneCoin crypto scheme. Despite prosecutors seeking 17 years, Scott&#39;s legal team recommended 5 years. He expressed sympathy for OneCoin’s victims before being sentenced. Scott worked with OneCoin to launder funds at the direction of “Cryptoqueen” Ruja Ignatova, who remained at large. Other figures in crypto firms face similar legal consequences.</p><h3 id="sec-delays-decision-on-blackrock-39-s-spot-ether-etf">SEC Delays Decision on BlackRock&#39;s Spot Ether ETF</h3><p>The United States Securities and Exchange Commission has <a href="https://x.com/JSeyff/status/1750247415137833151?s&#61;20" rel="noopener noreferrer nofollow">postponed </a>the decision on BlackRock&#39;s proposed spot Ether exchange-traded fund (ETF) one day before the deadline, citing the need for more time to review the proposed rule change. This marks the first of several delays that can be exercised over a 240-day period. The SEC must make a final decision on BlackRock&#39;s spot Ether ETF by August 7, with analyst predictions pointing to a final decision on all pending spot Ether ETFs in May.</p><h2 id="header-1">NEWS FROM MELEGA ECOSYSTEM</h2><h3 id="a-href-https-winzone-fun-rel-noopener-noreferrer-nofollow-winzone-wzm-farm-pool-listed-on-melegaswap-a"><a href="https://winzone.fun/" rel="noopener noreferrer nofollow">WinZone (WZM) Farm &amp; Pool Listed on MelegaSwap</a></h3><p>WinZone is a gigantic metaverse full of exciting opportunities. There, you will have access to commercial environments, exciting jobs, talented streamers, and educational environments. Furthermore, WinZone Metaverse offers its incredible NFT collection, where you will be rewarded with USDT for time played or through the Rental System.</p><h3 id="">•••</h3><p><em><strong>Risk warning: </strong>Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.</em></p><h3 id="trade-with-the-best-decentralized-amm-cryptocurrency-exchange">Trade with the best decentralized AMM cryptocurrency exchange</h3><p>Do you want to buy, sell, and invest in cryptocurrencies while still having 100% control of your crypto assets? If yes, then Melega Finance is for you. MelegaSwap is a leading automated market maker (AMM) decentralized exchange that offers users various options to trade and earn free tokens at high-interest rates and low charges.</p><p>At Melega, nobody manages your funds for you because you manage them directly from your wallet, while smart contracts transparently take care of everything else.</p><p><strong>Learn More About the Melega Ecosystem</strong></p><p>DAPP: <a href="https://melega.finance/" rel="noopener noreferrer nofollow">https://melega.finance/</a></p><p>Website:<a href="https://melegaswap.finance/" rel="noopener noreferrer nofollow"> https://melegaswap.finance</a></p><p>Crypto Services Hub: <a href="https://melega.space/" rel="noopener noreferrer nofollow">https://melega.space/</a></p><p>Telegram: <a href="https://t.me/melegacommunity" rel="noopener noreferrer nofollow">https://t.me/melegacommunity</a></p><p>Twitter: <a href="https://twitter.com/melegadex" rel="noopener noreferrer nofollow">https://twitter.com/melegadex</a></p><p>Binance Feed Page: <a href="https://www.binance.com/en/feed/profile/212703589" rel="noopener noreferrer nofollow">https://www.binance.com/en/feed/profile/212703589</a></p><p>Instagram: <a href="https://www.instagram.com/melega.finance/" rel="noopener noreferrer nofollow">https://www.instagram.com/melega.finance/</a></p><p>YouTube:<a href="https://www.youtube.com/channel/UC_kjHoXOkPSSB4HeHNZMq-Q" rel="noopener noreferrer nofollow"> Melega Finance Official</a></p>

Crypto Weekly Recap: CZ’s Travel Denied; SEC Delays BlackRock Ether ETF; Terraform Labs Files Bankruptcy; and More (January 21–27, 2024)

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